Nghị định 84/2015/ND-CP

DECREE

SUPERVISION AND ASSESSMENT OF INVESTMENT

Pursuant to the Law on Government organization dated December 25, 2001;

Pursuant to the Law on Public investment dated June 18, 2014;

Pursuant to the Law on Construction dated June 18, 2014;

Pursuant to the Law on Investment dated November 26, 2014;

At the request of the Minister of Planning and Investment;

The Government promulgates a Decree on supervision and assessment of investment.

Chapter I

GENERAL PROVISIONS

Article 1. Scope and regulated entities

1. Scope:

a) This Decree deals with supervision, assessment of investment programs and projects (hereinafter referred to as investment projects), overall assessment and supervision by the public of investment in Vietnam and outward investment; cost of supervision and assessment of investment, capacity of organizations and individuals (hereinafter referred to as entities) providing consultancy of supervision and assessment of investment projects; capacity of institutions providing training in assessment of investment projects; entitlements and responsibilities of entities involved in supervision and assessment of investment;

b) Regulations of law on securities shall apply to supervision and assessment of securities investment;

c) Supervision and assessment of investment projects funded by official development aid (ODA) and concessional loans given by foreign sponsors shall comply with this Decree; differences due to the use of such capital sources shall comply with regulations of law on management and use of ODA and concessional loans given by foreign sponsors.

2. This Decree applies to: entities responsible for supervision and assessment of investment and entities involved in supervision and assessment of investment.

Article 2. Interpretation of terms

In this Decree, the terms below are construed as follows:

1. “investment supervision” means activities that involve investment monitoring and inspection. Investment supervision includes supervision of investment projects and overall investment supervision.

2. “monitoring of investment project” means regular and periodic activities that involve update of information about progress of the project; consolidation, analysis, evaluation of information; proposal of plans serving the making of decisions of regulatory authorities in order to ensure the project’s adherence to its objectives and schedule, quality, and capacity of determined resources.

3. “investment project inspection” means periodic or extraordinary activities meant to inspect the conformity with regulations on project management of relevant entities; promptly discover errors and weakness in project management as prescribed by law; propose competent authorities to resolve difficulties that arise and deal with acts against regulations on project management; supervise the implementation of measures for resolving discovered issues.

4. “investment project assessment” means periodic or extraordinary activities meant to determine the extent of target accomplishment compared to the investment decision or assessment standards established by the state at a certain point of time. Investment project assessment includes: initial assessment, midterm assessment, terminal assessment, impact assessment, and extraordinary assessment.

5. “initial assessment” means assessment carried out right after the investment project is commenced in order to compare current developments of the project with that at the time of approval to take appropriate measures.

6. “midterm assessment” means assessment carried out in the middle of the approved schedule or after each stage (if the project is divided into multiple stages) in order to examine the progress of the project from the beginning and propose necessary changes.

7. “terminal assessment” means assessment carried out right after the completion of the investment project in order to examine the results and draw valuable lessons.

8. “impact assessment” means assessment carried out at an appropriate time after the third year from the day on which the project is put into operation in order to clarify the effectiveness, sustainability, and socio-economic impact compared to initial targets.

9. “extraordinary assessment” means assessment carried out upon occurrence of unexpected difficulties or impacts during the progress of the project.

10. “public supervision of investment” means voluntary activities of the residents within the commune, ward, or town (hereinafter referred to as commune) meant to monitor, inspect the adherence to regulations on investment management of relevant entities during the investment process; discover and request competent authorities to deal with violations against regulations on investment (except for classified projects of the State as prescribed by law).

11. “overall investment supervision” means regular monitoring and periodic inspection carried out as planned or extraordinarily during the investment process by regulatory bodies and local governments in order to discover and rectify misconducts and errors to ensure adherence to the planning, plan, targets, and ensure effectiveness.

12. “overall monitoring of investment” means regular and periodic update of information about investment and management of investment by regulatory bodies and local governments; consolidation, analysis, evaluation of information; proposal of mechanisms and policies related to investment management.

13. “overall inspection of investment” means periodic or extraordinary activities by regulatory bodies meant to inspect the conformity with regulations on investment management; promptly discover and rectify errors and weakness; ensure conformity of investment management with regulations of law; discover and request competent authorities to deal with difficulties that arise or violations against regulations on investment management; supervise the implementation of measures for resolving discovered issues.

14. “overall assessment of investment” means periodic activities meant to analyze and evaluate investment results of the whole economy, each sector, and each administrative division; determine the extent of achievement compared to the planning/plan in each stage or period; analyze the factors that affect investment result; propose solutions for raising investment effectiveness in the current or next period.

15. “component projects of public investment program” means a group of related activities meant to achieve one or some specific targets of the program within a specific administrative provision, in a defined period of time, and based of determined resources.

16. “investors of component projects” are the agencies/organizations tasked with managing component projects of the public investment program.

17. “operator” means the agency/organization tasked with operating the project.

18. “investment projects funded by other capital sources” are investment projects that are not funded by state budget.

Article 3. Entities supervising and assessing investment

1. Agencies assigned to make reports on proposal of investment policies.

2. Agencies assigned to prepare the investment.

3. Program owners, investors of component projects, investors.

4. Agencies or persons competent to decide investment policies; persons competent to decide investment.

5. Project operators.

6. Regulatory bodies, state ownership representative agencies.

7. Authorities competent to conclude project Public-Private Partnership (PPP) contracts.

8. Investment registration authorities and agencies issuing investment registration certificates

9. Specialized authorities.

10. Public investment authorities and investment authorities.

11. Public investment supervision boards.

Article 4. Rules for supervision and assessment of investment

1. The subjects, scope, contents of supervision and assessment of investment are adhered to.

2. Operation of the entities undergoing supervision and assessment of investment are not obstructed.

3. Standards, criteria, and documents are established as the basis for supervision and assessment.

4. Information serving supervision and assessment of investment is sufficient, timely, accurate, truthful, and transparent.

5. The issues related to the investment process are comprehensively considered.

6. Examination and assessment are carried out according to ample evidence and documents; scientific methods used are suitable for the subjects and contents of assessment.

7. The solutions and proposals must be practical, specific, and feasible.

8. Results of supervision and assessment must be processed, responded, and systematically stored.

Chapter II

SUPERVISION AND ASSESSMENT INVESTMENT PROJECTS FUNDED BY STATE BUDGET

Section 1: SUPERVISION AND ASSESSMENT OF PUBLIC INVESTMENT PROGRAMS

Article 5. Responsibility to supervise public investment program

1. The agency assigned to make the report on proposal of investment policies shall monitor, inspect the formulation of the report itself.

2. Owners of the program and component projects shall monitor and inspect the investment process of the public investment program according to the approved contents and criteria to ensure achievement of targets and investment effectiveness.

3. The regulatory body and person competent to decide investment in the program shall monitor and inspect the program within the scope of their management. Inspection shall be carried out as follows:

a) A program whose investment duration is longer than 12 months shall undergo at least one inspection.

b) Inspection shall be carried out if the location, target, scale of the project is changed, or total investment is increased.

4. The investment authority shall monitor the program within the scope of its management.

5. The agency or person competent to decide the investment policies of the program shall monitor and inspect the investment process according to the contents approved by the decision on investment policies.

6. The agency or person competent to decide the investment policies, public investment authority, regulatory body, and person competent to decide investment in the program shall decide planned and extraordinary inspections.

Article 6. Contents of supervision by the agency assigned to make the report on proposal of investment policies and program owner

1. The agency assigned to make the report on proposal of investment policies shall monitor, inspect the formulation of the report itself and make a report on the following issues:

a) Formulation of the report on proposal of investment policies;

b) The process of submission and approval of the investment policies;

c) Difficulties that arise during the formulation of the report on proposal of investment policies and resolutions;

d) Proposed plans for resolving difficulties and issues beyond the agency’s competence.

2. The program owner shall monitor, inspect the entire process of formulation of the feasibility study report of the program and make a report on the following issues:

a) Formulation of the feasibility study report;

b) The process of appraisal and approval of the program;

c) Difficulties that arise during the formulation of the feasibility study report and resolutions;

d) Proposed plans for resolving difficulties and issues beyond the agency’s competence.

3. The program owner shall monitor, inspect the entire process of execution of the program and make a report on the following issues:

a) Management of the program execution: formulation of an overall plan and detailed plan for launching the program; implementation and adjustment of such plans;

b) Formulation, appraisal, decision of investment in component projects of the program;

c) Progress of program execution: progress of achievement of the program’s targets; progress of investment projects; value of completed works;

d) Implementation of capital investment plan: raising capital for the program; disbursement, outstanding debt (if any);

dd) Capacity of execution of component projects and adherence of investors in component projects to regulations on investment management;

e) Proposed plans for resolving difficulties and issues beyond the program owner’s competence.

Article 7. Contents of supervision by the regulatory body and person competent to decide investment in the program

1. Monitoring contents:

a) Adherence to reporting regulations of the program owner and investors of component projects of the program;

b) Formulation, appraisal of the report on proposal of investment policies;

c) Formulation, appraisal of the program, decision on investment in the program and decision on adjustments to the program (if any);

d) Formulation, appraisal of component projects, decision on investment in the component projects, and decision on adjustments to the component projects (if any);

dd) Progress of program execution: progress of achievement of the program’s targets; progress of implementation of the capital investment and disbursement plan; difficulties that affect the program execution, and results of resolutions;

e) Implementation of measures by the program owner and investors of component projects;

g) Proposed plans for resolving difficulties and issues beyond one’s competence.

2. Inspection contents:

a) Adherence to regulations on formulation of reports on proposal of investment policies;

b) Adherence to regulations on formulation and appraisal of feasibility study reports;

c) Adherence to regulations formulation, appraisal of component projects, decision on investment in the component projects, and decision on adjustments to the component projects (if any);

d) Management of execution of the program by the its owner; management of execution of component projects by their investors;

dd) Implementation of measures for resolving issues taken by relevant agencies and units.

Article 8. Contents of supervision by investors of component projects

1. Monitoring contents:

a) Formulation, submission, and approval of component projects of the program;

b) Progress of component projects: formulation, appraisal, approval of projects; execution of projects; implementation of capital investment and disbursement plan; difficulties that arise, and results of resolutions;

c) Proposed plans for resolving difficulties and issues beyond investors’ competence.

2. Inspection contents:

a) Execution and management of component projects;

b) Adherence to regulations on investment management and investors’ capacity of project management;

c) Implementation of measures for resolving discovered issues.

Article 9. Contents of supervision by public investment authorities

1. Monitoring contents:

a) Adherence to reporting regulations of the program owner and investors of component projects;

b) Formulation, appraisal, approval of investment policies of the program, formulation, appraisal of the program, and decision on investment in the program;

c) Formulation, appraisal, and approval of component projects of the program;

d) Progress of program execution: progress of achievement of the program’s targets; progress of implementation of the capital investment and disbursement plan; primary difficulties that affect the program implementation, and results of resolutions;

dd) Implementation of measures by the program owner and investors of component projects;

e) Proposed plans for resolving difficulties and issues beyond the competence.

2. Inspection contents:

a) Adherence to regulations on formulation, appraisal of investment policies, and decision on investment policies of the program;

b) Adherence to regulations formulation, appraisal of the program and its component projects, decision on investment in program and its component projects, and decision on adjustments to the program and its component projects (if any);

c) Management of execution of the program by the regulatory body, program owner, and investors of component projects;

d) Implementation of measures for resolving discovered issues taken by relevant agencies and units.

Article 10. Supervision of investment projects of a public investment program

Supervision of investment projects of a public investment program shall comply with Section 2 and Section 3 of this Chapter, Chapter III, Chapter IV, and Chapter V of this Decree.

Article 11. Assessment of public investment program

1. A public investment program shall be assessed as follows:

a) Every public investment program must undergo an initial assessment, midterm assessment, terminal assessment, and impact assessment;

b) The regulatory body and person competent to decide investment shall decide extraordinary assessment of the program where necessary.

2. Responsibility for assessment of public investment program:

a) The program owner shall carry out the initial assessment, midterm assessment, and terminal assessment;

b) The investment decider shall carry out extraordinary assessment and impact assessment;

c) The public investment authority and regulatory body shall carry out various types of planned and extraordinary assessments of the programs under their management.

3. Assessment contents shall comply with Article 81 of the Law on Public Investment.

Section 2: SUPERVISION AND ASSESSMENT OF PUBLIC INVESTMENT PROJECTS

Article 12. Responsibility to supervise public investment projects

1. The agency assigned to prepare the investment shall monitor and inspect the preparation for the project itself.

2. The investor shall monitor the entire investment process of the project according to the approved contents and criteria to ensure achievement of targets and investment effectiveness.

3. The regulatory body and investment decider shall monitor and inspect the project within the scope of their management. Inspection shall be carried out as follows:

a) A project whose investment duration is longer than 12 months shall undergo at least one inspection;

b) Inspection shall be carried out if the location, target, scale of the project is changed, or total investment is increased.

4. Public investment authorities and specialized authorities shall monitor and inspect projects under their management.

5. The agency or person competent to decide the investment policies of the project shall monitor and inspect the project execution according to the contents approved by the decision on investment policies.

6. The agency or person competent to decide the investment policies, public investment authority, specialized authorities, regulatory body, and person competent to decide investment in the program shall decide planned and extraordinary inspections.

Article 13. Contents of supervision by the agency assigned to prepare the investment

1. The agency assigned to make the pre-feasibility study report or report on proposal of investment policies shall monitor, inspect the formulation of the report itself and make a report on the following issues:

a) Formulation of the pre-feasibility study report or report on proposal of investment policies;

b) The process of submission and approval of the investment policies;

c) Difficulties that arise during the formulation of the pre-feasibility study report or report on proposal of investment policies and resolutions;

d) Proposed plans for resolving difficulties and issues beyond the agency’s competence.

2. The agency assigned to make the feasibility study report shall monitor, inspect the formulation of the report itself and make a report on the following issues:

a) Formulation of the feasibility study report;

b) The process of submission and approval of project;

c) Difficulties that arise during the formulation of the feasibility study report and resolutions;

d) Proposed plans for resolving difficulties and issues beyond the agency’s competence.

Article 14. Contents of supervision by the investor and operator

1. The investor shall monitor, inspect the entire process of execution of the project and make a report on the following issues:

a) Management of the program execution: formulation of an overall plan and detailed plan for project execution; implementation and adjustment of such plans;

b) Execution of the project: progress, amount and value of completed works; work quality, fluctuation during the project execution;

d) Implementation of capital investment plan: raising capital for the project; disbursement (advance, advance withdrawal, and payment), financial statement, outstanding debt (if any) and settlement;

d) Capacity of project execution and adherence to regulations on investment management of the project management board and contractors;

dd) Difficulties that arise during the execution of the project and resolutions;

e) Proposed plans for resolving difficulties and issues beyond the investor’s competence.

2. The investor shall monitor, inspect the entire process of operation of the project and make a report on the following issues:

a) Management and operation of the project;

b) Difficulties that arise during the operation of the project and resolutions;

c) Proposed plans for resolving difficulties and issues beyond the investor’s competence.

Article 15. Contents of supervision by the investment decider

1. Monitoring contents:

a) Adherence to reporting regulations of the agency assigned to prepare for the investment, investor, and operator;

b) Formulation and appraisal of the project;

c) Execution of the project: progress; implementation of capital investment plan; disbursement; financial statement after the project is complete; outstanding debts (if any) and settlement; difficulties that affect the project execution and resolutions;

d) Operation of the project: Primary difficulties that arise affect project operation and resolutions;

dd) Implementation of measures by the investor and operator;

e) Proposed plans for resolving difficulties and issues beyond the competence.

2. Inspection contents:

a) Adherence to regulations on supervision and assessment of investment, appraisal of decision on investment policies; appraisal of and approval for project investment; bidding; compensation for land clearance and relocation; use of capital and other resources; distribution of capital, disbursement, payment, statement of capital investment; settlement of difficulties that arise during the project execution; acceptance and inauguration of the project; management and operation of the project; environmental protection;

b) Project execution management by the investor and project management board;

c) The project’s progress;

d) Project operation by the operator;

dd) Implementation of measures for resolving discovered issues by the agency assigned to prepare investment, investor, project management board, and operator.

Article 16. Contents of supervision by the regulatory body and public investment authority

1. Monitoring contents:

a) Adherence to reporting regulations of the agency assigned to prepare the investment, investor, investment decider, and operator;

b) The process of formulation, submission and approval of the investment policies;

c) Formulation, appraisal of the project, decision on investment in the project, and decision on adjustments to the project (if any);

d) Project execution: progress, implementation of capital investment and disbursement plan; primary difficulties that affect the project execution, and results of resolutions;

dd) Operation of the project: Primary difficulties that arise affect project operation and resolutions;

a) Implementation of measures by the agency assigned to prepare the investment, investor, investment decider, and operator;

g) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

a) Adherence to regulations on supervision and assessment of investment, appraisal of decision on investment policies; formulation, appraisal of and approval for project investment and decision on project adjustments (if any); bidding; compensation for land clearance and relocation; use of capital and other resources; distribution of capital, disbursement, payment, statement of capital investment; settlement of difficulties that arise during the project execution; acceptance and inauguration of the project; management and operation of the project; environmental protection;

b) Project execution management by investment decider, investor, and project management board;

c) The project’s progress;

d) Project operation by the operator;

dd) Implementation of measures for resolving discovered issues by the agency assigned to prepare the investment, investor, investment decider, project management board, and operator;

Article 17. Contents of supervision by specialized authorities

Specialized authorities, within the scope of their tasks and duties, shall supervise public investment projects in accordance with relevant regulations of law.

Article 18. Assessment of public investment projects

1. Inspection shall be carried out as follows:

a) Projects of national importance and Group A projects must undergo an initial assessment, midterm assessment, terminal assessment, and impact assessment;

b) Group B and Group C projects must undergo terminal assessment and impact assessment;

c) In addition to the assessments mentioned in Point a and Point b of this Clause, the investment deciders and public investment authorities shall decide other types of assessment prescribed in Clause 4 Article 2 of this Decree where necessary.

2. Responsibility to carry out project assessments:

a) The investor shall carry out the initial assessment, midterm assessment, and terminal assessment;

b) The investment decider shall carry out extraordinary assessment and impact assessment;

The investment decider may delegate the operator or a specialized agency to carry out the impact assessment of the project;

c) Public investment authorities shall carry out various types of planned and extraordinary assessments of projects under their management.

3. Contents of assessment of public investment projects shall comply with Article 81 of the Law on Public Investment.

Section 3: SUPERVISION AND ASSESSMENT OF INVESTMENT PROJECTS USING LOAN CAPITAL GUARANTEED BY THE GOVERNMENT, LOAN CAPITAL SECURED WITH STATE-OWNED PROPERTY, LAND USE RIGHT (LUR), CAPITAL FROM ADMINISTRATION DEVELOPMENT FUND, CAPITAL FOR DEVELOPMENT OF STATE-OWNED ENTERPRISES

Article 19. Responsibility for project supervision

1. The investor shall monitor and inspect the investment process of the project according to the approved contents and criteria in the investment decision.

2. Investment deciders shall monitor and inspect projects under their management. Inspection shall be carried out as follows:

a) A project whose investment duration is longer than 12 months shall undergo at least one inspection;

b) Inspection shall be carried out if the location, target, scale of the project is changed, or total investment is increased.

3. The state ownership representative agencies, agencies competent to decide the investment of state capital, investment authorities, and specialized authorities shall monitor and inspect projects under their management.

4. The agency or person competent to decide the investment policies of the project shall monitor and inspect the project execution according to the approved contents of the decision on investment policies.

5. The agency or person competent to decide the investment policies, investment authority, specialized authorities, state ownership representative agency, and other competent authorities shall decide planned and extraordinary inspections.

Article 20. Contents of supervision by investors

Investors shall supervise their investment projects in accordance with Article 13 and Article 14 of this Decree.

Article 21. Contents of supervision by investment deciders

Investment deciders shall supervise their investment projects in accordance with Article 15 of this Decree.

Article 22. Contents of supervision by state ownership representative agencies and agencies competent to decide the investment of state capital

1. The state ownership representative agencies shall supervise investment projects in accordance with Article 16 of this Decree.

2. Agencies competent to decide the investment of state capital shall monitor the execution of projects and inspect the investors’ adherence to regulations on investment of state capital in the projects.

Article 23. Contents of supervision by investment authorities

1. Monitoring contents:

a) The contents mentioned in Clause 1 Article 16 of this Decree;

b) Use of state capital for project execution;

2. Contents of project investment shall comply with Clause 2 Article 16 of this Decree.

Article 24. Contents of supervision by specialized authorities

Specialized authorities, within the scope of their tasks and duties, shall monitor and inspect investment projects in accordance with relevant regulations of law.

Article 25. Project assessment

1. Project assessment shall be carried out as follows:

a) Projects of national importance and Group A projects must undergo an initial assessment, midterm assessment, terminal assessment, and impact assessment;

b) Group B projects must undergo terminal assessment and impact assessment;

c) In addition to the assessments mentioned in Point a and Point b of this Clause, investment deciders, state ownership representative agencies, and public investment authorities shall decide other types of assessment prescribed in Clause 4 Article 2 of this Decree where necessary.

2. Responsibility to carry out project assessments:

a) The investor shall carry out the initial assessment, midterm assessment, and terminal assessment;

b) The investment decider shall carry out extraordinary assessment and impact assessment;

c) Public investment authorities and state ownership representative agencies shall carry out various types of planned and extraordinary assessments of projects under their management.

3. Contents of project assessment shall comply with Article 81 of the Law on Public Investment.

Chapter III

SUPERVISION AND ASSESSMENT OF PPP PROJECTS

Article 26. Responsibility for project supervision

1. The agency assigned to prepare the investment shall monitor and inspect the preparation for the project itself.

2. The authority competent to conclude the project contract and the investor shall monitor and inspect the investment process of the project according to the approved contents and the project contract.

3. Investment deciders shall monitor and inspect projects under their management. Inspection shall be carried out as follows:

a) A project whose investment duration is longer than 12 months shall undergo at least one inspection;

b) Inspection shall be carried out if the location, target, scale of the project is changed, or total investment is increased.

4. Issuers of investment registration certificates, public investment authorities, and specialized authorities shall monitor and inspect projects under their management.

5. The agency or person competent to decide the investment policies of the project shall monitor and inspect the project execution according to the contents approved by the decision on investment policies.

6. The agency or person competent to decide the investment policies, public investment authority, issuer of the investment registration certificate, specialized authorities, and the investment decider shall decide planned and extraordinary inspections.

Article 27. Contents of supervision by the agency assigned to prepare the investment

1. The agency assigned to make report on project proposal shall monitor, inspect the formulation of the report on project proposal itself and make a report on the following issues:

a) Formulation of the report on project proposal;

b) The process of appraisal and approval of the project proposal;

c) Difficulties that arise during the formulation of the report on project proposal and measures taken;

d) Proposed plans for resolving difficulties and issues beyond the agency’s competence.

2. The agency assigned to make the feasibility study report shall monitor, inspect the formulation of the feasibility study report itself and make a report on the following issues:

a) Formulation of the feasibility study report;

b) The process of appraisal and approval of the feasibility study report;

c) Difficulties that arise during the formulation of the feasibility study report and measures taken;

d) Proposed plans for resolving difficulties and issues beyond the agency’s competence.

Article 28. Contents of supervision by investors and authorities competent to conclude project contracts

1. The investor shall monitor, inspect, and report the performance of the project contract;

2. The authority competent to conclude the project contract shall monitor, and inspect, and report on the following issues:

a) Selection of investor; negotiation and conclusion of the project contract; investment registration;

b) Performance of the project contract;

c) Other contents prescribed in Article 14 of this Decree.

Article 29. Contents of supervision by the investment decider

1. Monitor, inspect the selection of investor, conclusion of the project contract, and investment registration.

2. Monitor, inspect the performance of the project contract.

3. Follow other contents prescribed in Article 15 of this Decree.

Article 30. Contents of supervision by issuers of investment registration certificates and investment authorities

1. Issuers of investment registration certificates shall

a) Monitor the implementation of investment registration certificates;

b) Inspect the adherence to regulations on investment management of the parties while performing the project contracts.

2. Investment authorities shall:

a) Monitor and inspect the publishing of project portfolio;

b) Monitor the selection of investors, negotiation and conclusion of contracts, and issuance of investment registration certificates;

c) Monitor the performance of project contracts;

d) Monitor the adherence to regulations on issuance of investment registration certificates;

dd) Inspect the adherence to regulations on investment management of the parties while performing the project contracts.

Article 31. Contents of supervision by specialized authorities

Specialized authorities, within the scope of their tasks and duties, shall monitor and inspect PPP projects in accordance with relevant regulations of law.

Article 32. Assessment of PPP projects

1. Project assessment shall be carried out as follows:

a) Projects of national importance and Group A projects must undergo an initial assessment, midterm assessment, terminal assessment, and impact assessment;

b) Group B projects must undergo terminal assessment and impact assessment;

c) In addition to the assessments mentioned in Point a and Point b of this Clause, investment deciders, issuers of investment registration certificates, and public investment authorities shall decide other types of assessment prescribed in Clause 4 Article 2 of this Decree where necessary.

2. Responsibility to carry out project assessments:

a) The authority competent to conclude the project contract shall carry out the initial assessment, midterm assessment, and terminal assessment;

b) The investment decider shall carry out extraordinary assessment and impact assessment;

c) Public investment authorities shall carry out various types of planned and extraordinary assessments of projects under their management.

3. Contents of assessment of PPP projects shall comply with Article 81 of the Law on Public Investment.

Chapter IV

SUPERVISION AND ASSESSMENT OF INVESTMENT PROJECTS FUNDED BY OTHER SOURCES OF CAPITAL

Article 33. Responsibility for project supervision

1. Investors and business organizations shall monitor and inspect their own projects.

2. Investment registration authorities shall monitor and inspect projects under their management. Each project shall undergo at least one inspection.

3. Investment authorities and specialized authorities shall monitor and inspect projects under their management.

4. The agency or person competent to decide the investment policies of the project shall monitor and inspect the project execution according to the contents approved by the decision on investment policies.

5. The agency or person competent to decide the investment policies, investment authority, specialized authorities, and investment registration authority shall decide planned and extraordinary inspections.

Article 34. Contents of supervision by investors

Each investor and business organization shall monitor and inspect their own projects, and report on the following issues:

1. Performance of procedures for decision of investment policies, issuance of the investment registration certificate, and issuance of the certificate of business registration (if any).

2. Progress of the project and achievement of its targets.

3. Progress of contribution of capital, charter capital, and legal capital (if required).

4. Project operation: business outcomes, information about employments, payment to state budget, investment in research and development, financial status of the enterprise, and other indicators depending on the business lines.

5. Adherence to regulations on environmental protection, use of land and natural resources as prescribed.

6. Implementation of the decision on investment policies and investment registration certificate (if any).

7. Fulfillment of conditions for investment (if the business lines of the project is subject to certain conditions).

8. Investment incentives (if any).

Article 35. Contents of supervision by investment registration authorities

1. Monitoring contents:

a) Adherence to reporting regulations of investors;

b) Project execution;

c) Project operation;

d) Adherence to regulations on environmental protection, use of land and natural resources;

dd) Implementation of measures by investors and business organizations;

e) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

a) Implementation of the decision on investment policies and investment registration certificate (if any).

b) Progress of projects, including investment progress which consists of loan capital and achievement of targets of projects.

c) Fulfillment of conditions for investment, incentives, investment assistance, and investors’ adherence to their commitments (if any);

d) Adherence to regulations on supervision and assessment of investment and statistical reports as prescribed;

dd) Implementation of measures for resolving discovered issues.

Article 36. Contents of supervision by investment authorities

1. Monitoring contents:

a) Adherence to reporting regulations of investment registration authorities;

b) Implementation of measures by investment registration authorities;

c) The contents mentioned in Clause 1 Article 35 of this Decree.

2. Inspection contents:

a) Conformity of investment projects with master plans for socio-economic development;

b) Issuance, adjustment, revocation of investment registration certificates by investment registration authorities as prescribed by law;

c) Regulations on incentives for investment projects;

d) Supervision, assessment of investment and investment assistance after issuance of investment registration certificates;

dd) Consolidation of reports on execution of investment projects;

e) The contents mentioned in Clause 2 Article 35 of this Decree.

Article 37. Contents of supervision by specialized authorities

1. Monitoring contents:

a) Adherence to reporting regulations of investors according to relevant regulations of law;

b) Implementation of measures by investors;

c) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

a) Conformity of investment projects with sector development planning and land use planning;

b) Adherence to regulations on environmental protection, use of land and natural resources (if any);

c) Land clearance and compensation, land withdrawal;

d) Application and adherence to specialized regulations of law.

Article 38. Assessment of investment projects funded by other sources of capital

1. Responsibility to carry out project assessments:

a) Investors and business organizations shall carry out terminal assessments of projects that require investment policies;

b) Investment registration authorities and investment authorities shall carry out extraordinary assessments and impact assessments where necessary.

2. Contents of terminal assessment:

a) Achievement of targets, mobilized resources, punctuality, and benefits of the project;

b) Proposal and recommendations.

3. Contents of impact assessment:

a) Operation of the project;

b) Socio-economic effects of the project;

c) Proposal and recommendations.

4. Contents of extraordinary assessment:

a) Conformity of the project execution result with investment targets;

b) Completeness of works according to the decision on investment policies and investment registration certificate (if any);

c) Unexpected difficulties and causes;

d) Impact of unexpected difficulties to the project execution and ability to achieve targets of the project;

dd) Proposal and recommendations.

Chapter V

SUPERVISION AND ASSESSMENT OF OUTWARD INVESTMENT PROJECTS

Article 39. Responsibility to supervise outward investment projects

1. The investor, person competent to decide investment in the project, and state ownership representative agency shall monitor and inspect the investment process of the project according to the approved contents and criteria in the investment decision.

2. Investment authorities and specialized authorities shall monitor and inspect projects under their management.

3. The agency or person competent to decide the investment policies of the project shall monitor and inspect the project execution according to the contents approved by the decision on investment policies.

Article 40. Contents of supervision by investors

Each investor shall monitor and inspect their own projects, and make a report on the following issues:

1. Performance of procedures for overseas investment.

2. project execution: progress of the project and achievement of its target, capital raising and transfer of capital to abroad, raising and outward investment of state capital (if any).

3. project operation: business outcomes, financial status of the business organization established overseas to execute the project; retention of profit for reinvestment, retention of profit for investment in new projects, transfer of profits to Vietnam; fulfillment of financial obligations to Vietnam; employment of Vietnamese workers.

4. Implementation of the Certificate of registration of outward investment.

5. Fulfillment of conditions for outward investment with regard to projects of investment in banking, securities, insurance, science and technology.

Article 41. Contents of supervision of outward investment projects funded by state capital by investment deciders and state ownership representative agencies

1. Monitoring contents:

a) Adherence to reporting regulations of the investor;

b) Project execution: progress of the project and achievement of its target, progress of transferring capital to abroad; management, use, preservation, and development of state capital;

c) Business outcomes, financial status of the business organization established overseas to execute the project; transfer of profit to Vietnam;

d) Implementation of measures by investors;

dd) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

a) The project’s progress;

b) Adherence to regulations of law on outward investment of state capital;

c) Implementation of the Certificate of registration of outward investment;

d) Adherence to regulations of law on: transfer of capital to abroad, sending Vietnamese workers abroad, transfer of profit to Vietnam, supervision and assessment outward investment projects.

dd) Implementation of measures for resolving discovered issues.

Article 42. Contents of supervision by investment authorities

1. Monitoring contents:

a) Adherence to reporting regulations of the investor;

b) Project execution: progress of the project and achievement of its target, progress of transferring capital to abroad;

c) Consolidation of results of outward investment;

d) Implementation of measures of investors;

dd) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

a) The project’s progress;

b) Implementation of the decision on investment policies, Certificate of registration of outward investment, and other regulations of law on outward investment;

c) Implementation of measures for resolving discovered issues.

Article 43. Contents of supervision by specialized authorities

Specialized authorities, within the scope of their tasks and duties, shall supervise outward investment projects as follows:

1. Monitoring contents:

a) Execution of projects under their management: progress of projects and achievement of their targets, progress of transferring capital to abroad, raising and outward investment of state capital (if any);

b) Developments of outward investment activities under their management;

c) Fulfillment of conditions for outward investment with regard to projects of investment in banking, securities, insurance, science and technology;

d) Implementation of measures by investors;

dd) Proposed plans for resolving difficulties and issues beyond their competence.

2. Inspection contents:

a) Adherence to regulations of law on: transfer of capital to abroad, use of state capital for outward investment; sending Vietnamese workers abroad, transfer of profit to Vietnam, and other regulations of law on outward investment;

b) Implementation of measures for resolving discovered issues.

Article 44. Assessment of outward investment projects

1. Responsibility to carry out project assessments:

a) The investor shall carry out the initial assessment, midterm assessment, and terminal assessment;

b) The state ownership representative agency, investment decider, specialized authorities, and investment authorities shall carry out extraordinary assessments and impact assessments where necessary.

2. Contents of terminal assessment:

a) Assessment of result of project execution compared to the Certificate of registration of outward investment: achievement of the project targets; mobilized resources; project execution progress; economic effects of the project;

b) Proposal and recommendations.

3. Contents of impact assessment:

a) Operation and effectiveness of the project: business outcomes, financial status of the business organization established overseas to execute the project; profit of the project; transfer of profits to Vietnam; fulfillment of financial obligations to Vietnam; employment of Vietnamese workers;

b) Proposal and recommendations.

4. Contents of extraordinary assessment:

a) Conformity of the project execution result with investment targets;

b) Completeness of works compared to the Certificate of registration of outward investment;

c) Unexpected difficulties and causes;

d) Impact of unexpected difficulties to the project execution and ability to achieve targets of the project;

dd) Proposal and recommendations.

Chapter VI

OVERALL SUPERVISION AND ASSESSMENT OF INVESTMENT

Article 45. Responsibility for overall supervision and assessment of investment

1. Investment authorities shall carry out overall assessment, monitoring, and inspection of investment within the scope of their management.

2. Specialized authorities shall carry out overall assessment, monitoring, and inspection of investment in the fields under their management.

3. Investment registration authorities shall carry out overall assessment, monitoring, and inspection of investment within the scope of their management.

4. State-owned enterprises whose over 50% of charter capital is held by the State shall carry out overall assessment, monitoring, and inspection of their own investment.

Article 46. Contents of overall investment monitoring

1. Promulgation of documents on guidelines for policies and regulations of law on investment.

2. Formulation, appraisal, approval, and management of planning.

3. Formulation, appraisal, and approval of investment policies.

4. Implementation of public investment plans as prescribed in Article 77 of the Law on Public Investment.

5. Formulation, appraisal, approval, execution of PPP projects.

6. Formulation, appraisal, approval, and execution of investment projects using loan capital guaranteed by the government, loan capital secured with state-owned property, land use right, capital from administration development fund, capital for development of state-owned enterprises

7. Management of investment projects funded by other sources of capital:

a) Attraction of investment, implementation of procedures for deciding investment policies, issuance of investment registration certificates, management of execution of investment projects of foreign investors and foreign-invested business organizations;

b) Implementation of procedures for deciding investment policies and management of execution of investment projects funded by domestic private capital.

8. Investment supervision and assessment.

Article 47. Contents of overall investment inspection

1. Implementation of documents providing guidelines for policies and regulations of law on investment.

2. Progress and conformity of the formulation, appraisal, approval, and management of planning.

3. Progress and conformity of the formulation, appraisal, and approval of investment policies.

4. Implementation of public investment plans as prescribed in Article 77 of the Law on Public Investment.

5. Progress and conformity of the formulation, appraisal, approval, and execution of PPP projects.

6. Progress and conformity of the formulation, appraisal, approval, and execution of investment projects using loan capital guaranteed by the government, loan capital secured with state-owned property, land use right, capital from administration development fund, capital for development of state-owned enterprises.

7. Progress and conformity of the management of projects funded by other sources of capital.

8. Investment supervision and assessment.

Article 48. Contents of overall investment assessment

1. Collection, analysis, assessment of investment results of the economy in terms of scale, speed, structure, progress, and effectiveness of investment.

2. Assessment of achievement of objectives, comparison with the previous period; assessment of feasibility of approved plans and planning.

3. Assessment of public investment plans as prescribed in Article 78 of the Law on Public Investment.

4. Overall assessment of investment management.

5. Determination of elements that affect the developments and results of investment; proposal of solutions for improving effectiveness of investment in the current or next period.

Chapter VII

PUBLIC SUPERVISION OF INVESTMENT

Article 49. The right to supervise investment of the public

1. Every citizen has the right to supervise investment projects via Public Investment Supervision Board; procedures for public supervision of investment shall comply with Article 83 of the Law on Public Investment and this Decree.

2. Public Investment Supervision Board has the right to:

a) Request competent authorities to provide information about socio-economic development planning, sectoral development planning, land us plans, infrastructural development planning, detailed planning of urban areas, residential areas, industrial parks, and relevant local investment plans as prescribed by law;

b) Request relevant authorities to provide information about the issues under their management as prescribed by law;

c) Request owners of programs and investors to provide information serving investment supervision: investment decision, information about the investor and project management board, address; investment progress and plan; land area used; detailed site plan and architectural plan; plan for land clearance, compensation, and relocation; plan for waste treatment and environmental protection.

For programs/projects having contributions of the public, projects funded by commune budget or direct sponsorship for communes, apart from the aforesaid contents, the program owner/investor also has the responsibility to provide additional information about the procedures, technical regulations, types and norms of supplies, result of acceptance and financial statements of the program/project;

d) Competent authorities, program owners and investors shall provide the documents mentioned in Point a, Point b, and Point c of this Clause to Public Investment Supervision Board.

3. Suspension of investment or operation of a project shall be proposed to a competent authority in the following cases:

a) It is suspected that violations are committed during the execution of the project which seriously affect manufacture, security, cultural – social life, and living environment of the community.

b) The investor fails to publish information about the program/project as prescribed by law.

4. Results of public supervision of investment and handling measures shall be submitted to competent authorities.

5. The Ministry of Planning and Investment shall provide specific guidance on conditions and procedures for compensation (if any) when suspending or terminating the execution of projects, which apply nationwide.

Article 50. Contents of public supervision of investment

1. Contents of public supervision of public investment programs/projects, PPP projects; investment projects using loan capital guaranteed by the government, loan capital secured with state-owned property, land use right, capital from administration development fund, capital for development of state-owned enterprises.

a) Monitoring, inspection of conformity of the decision on investment policies, investment decision with socio-economic development planning, land use planning, relevant planning, and investment plans within the communes as prescribed by law;

b) Monitoring and inspecting the investor’s adherence to regulations on: land boundaries and land use; detailed site plan, architectural and construction plan; environmental protection, land clearance, compensation, and relocation plan; investment plan and progress;

c) Discovery of acts that infringe upon public interests; negative impacts of the project to the living environment of the community during the investment stage or operation of the project;

d) Discovery of act of wastefulness that causes loss of capital and property of the project;

dd) Transparency during the investment process.

2. Contents of public supervision of investment in projects funded by other sources of capital shall comply with Point a, Point b, Point c, and Point dd Clause 1 of this Article.

3. Contents of public supervision of investment in programs/projects having contributions of the public, projects funded by commune budget or direct sponsorship for communes:

a) The contents mentioned in Clause 1 of this Article;

b) Monitoring, inspection of adherence to technical regulations and processes, norms and categories of supplies; monitoring and inspection of acceptance result and financial statement of the project.

Article 51. Organization of public supervision of investment

1. Vietnamese Fatherland Front Committee of the communes shall:

a) Establish a Public Investment Supervision Board for each program/project. The Board consists of at least 05 people, including representatives of Vietnamese Fatherland Front Committee of the communes, inspectors, and representatives of the local community;

b) Formulate a plan for public supervision of investment in local programs and projects; notify the program owner, investor, and management board of the plan and composition of the Public Investment Supervision Board at least 45 days before commencement;

c) Instruct Public Investment Supervision Board to formulate an investment supervision plan as prescribed by law and this Decree; assist the Public Investment Supervision Board in communication, making and sending investment supervision reports;

d) Provide instructions for and encourage the community to exercise their right to supervise investment as prescribed by this Decree;

dd) Verify feedbacks and complaints of Public Investment Supervision Board before notifying competent authorities.

2. Presidents of the People’s Committee of the commune, within the capacity of the commune, shall provide a place for Public Investment Supervision Board to hold meetings and store documents serving public supervision of investment; enable it to use communication devices of the People’s Committee of the communes for the purpose of public supervision of investment.

3. Public Investment Supervision Board shall:

a) Carry out investment supervision in accordance with the formulated plan; receive and send feedbacks from the people to competent authorities as prescribed by this Decree; receive and provide responses of competent authorities to the people;

b) Submit periodic and extraordinary reports on result of public supervision of investment to Vietnamese Fatherland Front Committee of the commune.

Chapter VIII

COSTS OF INVESTMENT SUPERVISION AND ASSESSMENT

Article 52. Costs of and sources of capital for investment supervision and assessment

1. Costs of supervision and assessment of investment are the costs necessary for agencies, organizations, and individuals to supervise and assess investment as prescribed by this Decree.

2. Sources of capital for investment supervision and assessment:

a) The cost of supervision and assessment of investment carried out by competent authorities shall be covered by their budgets and regular funding sources for supervision and assessment of investment according to their annual plans;

b) Costs of supervision and assessment of investment carried out by agencies assigned to prepare the investment are included in the cost of investment preparation;

c) Costs of supervision and assessment of investment carried out by the programs owner, investor, authority competent to sign project contracts, or an organization hired by such authority is 20% of the program/project management cost and included in the total investment in the program/project;

d) Cost of supervision and assessment of investment carried out by the operator is included in the project operation cost;

dd) Cost of public supervision of investment is funded by commune budgets according to annual plans of Vietnamese Fatherland Front Committees of communes.

3. The agencies, organizations, and individuals assigned to carry out supervision and assessment of investment in this Decree have the responsibility to use state budget or other sources of capital properly, economically, and efficiently according to applicable regulations on financial management of the State and this Decree.

Article 53. Costs of supervision and assessment of investment

1. Costs of monitoring investment programs/projects:

a) Expenditure on stationery, supplies, equipment directly serving the monitoring the investment program/project;

b) Costs of communication directly serving the monitoring of the program/project;

c) Cost of photocopying, typing, sending documents and reports;

d) Administrative costs of meetings and conventions;

dd) Costs of making periodic reports;

e) Costs of provision of training;

g) Cost of making, updating reports, operating the system of information about supervision and assessment of investment in programs and projects funded by state capital and National Investment Information System.

2. Costs of inspection of investment programs/projects:

a) Expenditure on stationery, supplies, equipment directly serving the inspection of the investment program/project;

b) Costs of communication directly serving the inspection of the program/project;

c) Cost of photocopying, typing, sending documents and reports;

d) Administrative costs of meetings and conventions;

dd) Traveling costs; allowance for accommodations during business trips;

e) Costs of inspection result reports.

3. Costs of assessment of investment programs/projects:

a) Expenditure on stationery, supplies, equipment directly serving the assessment of the investment program/project;

b) Costs of communication directly serving the assessment of the program/project;

c) Cost of photocopying, typing, sending documents and reports;

d) Administrative costs of meetings and conventions;

dd) Traveling costs; allowance for accommodations during business trips;

e) Costs of assessment result reports.

g) Cost of experts and consultants.

4. Costs of overall investment supervision and assessment

a) Expenditure on stationery, supplies, equipment directly serving the overall investment supervision and assessment;

b) Costs of communication directly serving the overall investment supervision and assessment;

c) Cost of photocopying, typing, sending documents and reports;

d) Administrative costs of meetings and conventions;

dd) Traveling costs; allowance for accommodations during business trips;

e) Costs of overall investment result reports;

g) Costs of making presorts on overall investment supervision and assessment;

h) Cost of experts and consultants.

5. Cost of operating the system of information about supervision and assessment of investment in programs and projects funded by state capital and National Investment Information System.

6. Cost of public supervision of investment

a) Costs of stationery and communications serving public supervision of investment;

b) Cost of photocopying, typing, sending documents and reports on public supervision of investment;

c) Administrative costs of meetings and conventions about public supervision of investment;

d) Cost of provision of training courses in public supervision of investment;

dd) Liability payment for members of Public Investment Supervision Boards.

Article 54. Management and use of funding for supervision and assessment of investment

1. Funding for supervision and assessment of investment by owners of public investment programs, investors in public investment projects shall comply with regulations on cost management of investment programs/projects.

2. Management and use of funding for supervision and assessment of investment by investment deciders, investors in projects using loan capital guaranteed by the government, loan capital secured with state-owned property, land use right, capital from administration development fund, capital for development of state-owned enterprises, authorities competent to conclude and execute PPP contracts shall comply with Clause 1 of this Article.

3. Funding for supervision and assessment of investment by investors in projects funded by other sources: investors shall manage and use the funding for supervision and assessment of investment on a case-by-case basis.

4. Management and use of funding for supervision and assessment of investment by competent authorities.

a) Authorities in charge of supervision and assessment of investment shall make annual plans, estimates of costs of supervision and assessment of investment. The cost estimate shall be made according to the plan for supervision and assessment of investment, the costs mentioned in Article 53 of this Decree, and the limits prescribed by applicable regulations;

b) Funding for supervision and assessment of investment shall comply with regulations on management and use of sources of administrative and regular funding of competent authorities or the Law on State budget;

c) In case an authority hires an advisory organization to assess the program/project, the cost management in which case is the same as management of cost of consultancy services. advance and payment for hiring an advisory organization to assess the program/project shall comply with current regulations on management of payments for investment and construction consultancy.

5. Management and use of funding for public supervision of investment

a) Funding for public supervision of investment in a commune is included in the cost estimate of Vietnamese Fatherland Front Committee of the commune, which is covered by the commune budget. The minimum funding for public supervision of investment is VND 5 million per year and varies according to the plan for public supervision of investment made by the People’s Council of the commune.

The estimation, provision, and statement of funding shall be done by Public Investment Supervision Board in accordance with regulations on management of commune budget and other financial activities of the commune;

b) Funding for propagation, provision of training courses, guidance, summary of public supervision of investment of each district and province shall be included in the cost estimate of Vietnamese Fatherland Front Committee of the district/province and covered by the budget of the district/province.

6. The estimation and management of funding for supervision and assessment of investment shall comply with applicable regulations.

Chapter IX

REQUIREMENTS FOR PROVIDING CONSULTANCY ON ASSESSMENT OF INVESTMENT PROJECTS

Article 55. Requirements for individuals to provide consultancy on assessment of investment projects

1. Investment project assessment consultants are divided into class 1 and class 2.

2. Requirements for class 2 consultants:

a) Have at least a bachelor’s degree;

b) Have participated in investment management works for at least 5 years;

c) Have participated in assessment of at least 5 projects, or formulation of feasibility study report, evaluation, appraisal, or investment management of at least 05 projects;

d) Have completed a training course in supervision and assessment of investment and obtained a certificate issued by a lawful Vietnamese or foreign training institution, or enumerated on the list of investment project assessment lecturers as prescribed in Point c Clause 3 Article 58 of this Decree.

3. Requirements for class 1 consultants:

a) Have at least a bachelor’s degree;

b) Have met standards for class 2 consultants for at least 3 years or participated in investment management works for at least 8 years;

c) Have participated in assessment of at least 02 class A projects, or formulation of feasibility study report, evaluation, appraisal, or investment management of at least 02 class A projects;

d) Have completed a training course in supervision and assessment of investment and obtained a certificate issued by a lawful Vietnamese or foreign training institution, or enumerated on the list of investment project assessment lecturers as prescribed in Point c Clause 3 Article 58 of this Decree.

4. Scope of practice

a) Class 2 consultants may participate in assessment of class B and class C projects;

b) Class 1 consultants may participate in assessment of projects of national importance, class A, class B, and class C projects.

Article 56. Required capacity of lead consultants

1. Lead consultants are divided into class 1 and class 2.

2. Requirements for class 2 lead consultants:

a) Satisfy the requirements for class 2 consultants prescribed in Clause 2 Article 55 of this Decree:

b) Have conducted the assessment of at least 05 projects, or conducted formulation of feasibility study report, evaluation, appraisal, or investment management of at least 05 projects, or acted as the head of the project management board of at least 05 projects;

3. Requirements for class 1 lead consultants:

a) Satisfy the requirements for class 1 consultants prescribed in Clause 3 Article 55 of this Decree:

b) Have conducted the assessment of at least 02 class A projects, or conducted formulation of feasibility study report, evaluation, appraisal, or investment management of at least 02 class A projects, or acted as the head of the project management board of at least 02 class A projects;

4. Scope of practice

a) Class 2 lead consultants may conduct assessment of class B and class C projects;

b) Class 1 lead consultants may conduct assessment of projects of national importance, class A, class B, and class C projects.

Article 57. Requirements for organizations providing consultancy on assessment of investment projects

1. Organizations providing consultancy on assessment of investment projects (hereinafter referred to as advisory organizations) are divided into class 1 and class 2.

2. Requirements for class 2 advisory organizations:

a) Have at least 5 persons that satisfy the requirements for providing consultancy on investment project assessment, at least 01 of whom is a class 2 lead consultant as prescribed in Clause 2 Article 56 of this Decree;

b) Have a charter capital of at least VND 01 billion.

3. Requirements for class 1 advisory organizations:

a) Have at least 5 persons that satisfy the requirements for class 1 consultants, at least 01 of whom is a class 1 lead consultant as prescribed in Clause 3 Article 56 of this Decree;

b) Have a charter capital of at least VND 01 billion.

4. Scope of operation:

a) Class 2 advisory organizations may conduct assessment of class B and class C projects;

b) Class 1 advisory organizations may conduct assessment of projects of national importance, class A, class B, and class C projects.

Article 58. Requirements for investment project assessment training institutions (hereinafter referred to as training institutions)

1. Every training institution must:

a) Has a legal status and appropriate functions as prescribed by law;

b) Has at least 05 investment project assessment lecturers (hereinafter referred to as lecturers) that satisfy the requirements in Clause 3 of this Article;

c) Has teaching materials suitable for the framework program provided by the Ministry of Planning and Investment;

d) Be enumerated on the list of investment project assessment training institutions under the management of the Ministry of Planning and Investment.

2. An application for registration of a training institution consists of:

a) A certified true copy of the certificate of business registration or decision on establishment;

b) A declaration of the training institution’s capacity: facilities, personnel, documents about the training management process.

c) A written application for registration of the training institution; information sheet.

3. Every lecturer must:

a) Have at least a bachelor’s degree;

b) Have at least 8 years’ experience of working in: investment project assessment consultancy; formulation, appraisal, inspection of investment project; state management of investment; drafting of legislative documents and instructional documents on formulation, appraisal, assessment, management of investment projects;

c) Be enumerated on the list of lecturers under the management of the Ministry of Planning and Investment.

4. An application for registration of a lecturer consists of:

a) A certified true copy of the ID card or passport;

b) A certified true copy of the bachelor’s degree or postgraduate degree;

c) A written application for registration of lecturer and information sheet.

5. The Ministry of Planning and Investment shall provide specific guidance on management of training in supervision and assessment of investment.

Chapter X

ORGANIZATION OF INVESTMENT SUPERVISION AND ASSESSMENT.

Article 59. Responsibility of the Ministry of Planning and Investment for supervision and assessment of investment

The Ministry of Planning and Investment, which is in charge of assisting the Prime Minister in organizing supervision and assessment of investment, shall:

1. Provide guidance, monitor, and submit reports on nationwide investment supervision and assessment to the Prime Minister.

2. Organize overall investment supervision and assessment nationwide.

3. Lead the supervision and assessment of programs and projects of which investment policies are decided by the Prime Minister, the Government, or the National Assembly.

4. Carry out supervision and assessment of projects under their management (including those assigned to inferior agencies).

5. Carry out supervision and assessment of projects of which investment registration certificates are issued by the Ministry of Planning and Investment.

6. Propose solutions for overcoming difficulties in investment of sectors, provinces, or particular projects to the Prime Minister, relevant Ministries, regulatory bodies, and local governments in order to ensure progress and effectiveness of investment.

7. Consider, offer opinions, or resolve issues within its competence at the request of other Ministries, regulatory bodies, local governments, and investors.

8. Develop and operate an information system serving supervision and assessment of investment.

9. Perform other duties related to supervision and assessment of investment at the request of the Government or the Prime Minister.

Article 60. Responsibility of other Ministries and ministerial agencies for supervision and assessment of investment

1. Organize overall investment supervision and assessment within their fields/sectors.

2. Carry out supervision and assessment of projects within their competence to decide (including those assigned to inferior agencies).

3. Carry out supervision and assessment of investment projects of state-owned enterprises whose over 50% of charter capital is held by them.

4. Organize supervision and assessment of PPP projects as authorities competent to conclude contracts.

5. Carry out specialized supervision and assessment of fulfillment of conditions for investment of investment projects under their management.

6. Cooperate with the Ministry of Planning and Investment in organizing supervision and assessment of programs and projects of which investment policies are decided by the Prime Minister, the Government, or the National Assembly within the scope of their management.

7. Resolve the issues reported by other Ministries, regulatory bodies, and local governments if they are within the scope of their competence.

8. Offer opinions or resolve issues within their competence at the request of other Ministries, regulatory bodies, local governments, and investors.

9. Submit reports on overall supervision and assessment of investment within their fields/sectors, and reports on supervision and assessment OF investment projects under their management.

10. Promptly and accurately update information on the information system as prescribed in Clause 14 Article 68 of this Decree.

Article 61. Responsibility of the People’s Committees of provinces for supervision and assessment of investment

1. Organize overall investment supervision and assessment within their provinces.

2. Carry out supervision and assessment of projects within their competence to decide (including those assigned to inferior agencies).

3. Carry out supervision and assessment of investment projects of state-owned enterprises whose over 50% of charter capital is held by them.

4. Carry out supervision and assessment of projects of which investment registration certificates are issued by them.

5. Organize supervision and assessment of PPP projects as authorities competent to conclude contracts.

6. Supervise the implementation of land use plan and environmental protection plan of projects in their provinces; offer opinions or resolve issues related to land clearance and land use within their competence at the request of Ministries, regulatory bodies, and investors.

7. Propose investment issues in their provinces related to the projects under their management to the Prime Minister, relevant Ministries, regulatory bodies in order to overcome difficulties, ensure progress and effectiveness of investment.

8. Submit reports on overall supervision and assessment of investment within provinces and reports on supervision and assessment of investment projects under their management.

9. Promptly and accurately update information on the information system as prescribed in Clause 14 Article 68 of this Decree.

Article 62. Responsibility of investment registration authorities for supervision and assessment of investment

1. Organize overall investment supervision and assessment and supervision and assessment of investment projects within their management.

2. Submit reports on overall supervision and assessment of investment and reports on supervision and assessment of investment projects under their management.

3. Promptly and accurately update information on the information system as prescribed in Clause 14 Article 68 of this Decree.

Article 62. Responsibility of enterprises whose over 50% of charter capital is held by the State for supervision and assessment of investment

1. Carry out overall investment supervision and assessment within the enterprises.

2. Carry out supervision and assessment of investment projects they decide or under their management.

3. Submit reports on overall supervision and assessment of investment and reports on supervision and assessment of investment projects under their management.

4. Promptly and accurately update information on the information system as prescribed in Clause 14 Article 68 of this Decree.

Article 64. Responsibility of program owners, investors, and operators for supervision and assessment of investment programs and projects

1. Owners of public investment programs, investors, operators of public investment projects, and investors of investment projects using loan capital guaranteed by the government, loan capital secured with state-owned property, land use right, capital from administration development fund, capital for development of state-owned enterprises have the responsibility to:

a) Carry out supervision and assessment of investment programs and projects in accordance with this Decree;

b) Formulate a framework for project supervision and assessment before commencement of the project;

c) Establish an internal communication system; collect and store sufficient information, data, documents of the project; reports of contractors, changes to state policies and law, regulations of sponsors related to project management (if funded by ODA);

d) Promptly report difficulties beyond their competence to superior authorities;

dd) Make reports on supervision and assessment of projects as prescribed;

e) Promptly and accurately update the reports on the information system as prescribed in Clause 14 Article 68 of this Decree;

g) Take responsibility for the accuracy of report contents.

2. Investors have the responsibility to:

a) Carry out supervision and assessment of investment projects in accordance with this Decree;

b) Establish an internal communication system; collect and store sufficient information, data, documents of the project; reports of contractors related to project management;

c) Promptly report difficulties beyond their competence to the authorities;

d) Make reports on supervision and assessment of projects as prescribed;

dd) Promptly and accurately update the reports on the information system as prescribed in Clause 14 Article 68 of this Decree;

e) Take responsibility for the accuracy of report contents.

Article 65. Organization of investment supervision and assessment

1. Each Ministry and regulatory body shall appoint an affiliated unit (Department) to take charge of its investment supervision and assessment tasks; provide guidance on supervision and assessment of investment for other affiliated units and projects assigned to inferior agencies.

2. The Department of Planning and Investment of each province shall take charge of investment supervision and assessment tasks within the province, provide guidance on supervision and assessment of investment for affiliated units and projects assigned by the People’s Committee of the province to inferior agencies.

3. Each enterprise whose over 50% charter capital is held by the State shall appoint a department to take charge of investment supervision and assessment tasks of the enterprise, provide guidance on supervision and assessment of investment for affiliated units.

4. The program owner, investor, operator shall assign the project management board or a department to take charge of investment supervision and assessment tasks of the projects under their management.

5. The investor shall appoint the project management company or a department to take charge of investment supervision and assessment tasks of the projects under their management.

6. Supervision and assessment of investment in case a regulatory agency takes the roles of two or more of the following entities: public investment authority, investment authority, specialized authority, supervisory authority, state ownership representative agency, investment registration authorities, investment decider, authority competent to conclude contract, program owner, investor, operator:

a) The unit in charge shall perform all investment supervision and assessment tasks of the agency. Supervision and assessment tasks of the program owner, investor, or operator shall be performed by the representative unit of the program owner, investor, or operator;

b) Content of supervision and assessment of investment shall integrate the supervision and assessment contents of assigned entities.

7. The units mentioned in Clause 1 through 6 of this Article shall carry out supervision and assessment of investment in the following manner:

a) Internal supervision and assessment of the investment program/project and overall investment supervision and assessment;

b) Hiring experts or an advisory organization to carry out assessment of the program/project and overall investment assessment.

8. The investment decider shall decide whether the investor may hire experts or an advisory organization to assess the investment project.

9. The hiring of experts or an advisory organization to carry out assessment of the program/project and overall investment assessment shall comply with regulations of law on bidding.

Article 66. Duties and entitlements of agencies and units in charge of supervision and assessment of investment

1. The agencies and units assigned to carry out supervision and assessment of investment shall assists Ministries, regulatory bodies, the People’s Committees, enterprises, and investors in investment supervision as follows:

a) Make plans for monitoring, inspecting, assessing investment and implement such plans within the assigned duties;

b) Assign departments and officials responsible for monitoring, inspecting, assessing investment and overall monitoring, inspection and assessment of investment;

c) Organize a system for provision and storage of information about investment within the Ministry, regulatory body, area, enterprise, or projects (for investors) under their management;

d) Collect reports and relevant information;

dd) Consider, analyze information, reports; make and submit reports on supervision and assessment of investment in accordance with regulations to competent authorities.

2. Agencies and units in charge of supervision and assessment of investment have the right to:

a) Request other agencies and units in charge of supervision and assessment of investment to report in accordance with regulations, provide information and documents about the content of supervision and assessment of investment where necessary;

b) Discuss via telephone or on the site with other investors, agencies and units in charge of supervision and assessment to clarify the issues related to the supervision and assessment. When working on the site, it is required to have a specific working plan and relevant agencies and units must be informed in advance;

c) Request competent authorities to adjust the project if necessary, cancel the investment decision, suspend or terminate the execution of the project if serious violations are found during the process of supervision and assessment of investment. Report violations against regulations on supervision and assessment of investment committed by investors, relevant agencies and units to competent authorities and propose appropriate punitive measures.

Article 67. Method and procedures for supervision and assessment of investment

1. The monitoring of investment programs and projects and overall investment monitoring shall be carried out in the following manners:

a) Regular monitoring on the site;

b) Monitoring via periodic and extraordinary reports;

c) Monitoring via both reports and on-site monitoring.

2. The program owner, investor shall regularly monitor the progress of the program/project and is responsible for the promptness and accuracy of the reports.

3. The investment decider and competent authorities shall monitor the programs and projects and carry out overall investment monitoring by analyzing, assessing reports made by the program owner, investor, relevant agencies and units.

They may work on the site to clarify relevant information where necessary.

4. Inspection, assessment of investment programs and projects and overall investment inspection and assessment shall be carried out in the following manners:

a) Via reports;

b) Via inspectorates and assessing delegations.

5. Procedures for monitoring an investment program/project.

a) Formulate and adjust the framework for supervision and assessment of the project;

b) Determine demand for information and indicators to be monitored;

c) Make a monitoring plan;

d) Establish a mechanism for assisting the monitoring tasks;

dd) Prepare the tools and IT system to assist the monitoring of the program/project;

e) Collect and analyze data;

g) Report monitoring results according to regulations.

6. Procedures for inspecting an investment program/project

a) Make and submit the inspection plan;

b) Establish an inspectorate (if any);

c) Notify the inspection plan and request preparation of documents serving the inspection. The minimum time limit for document preparation is 20 days from the day on which the request is received;

d) Carry out the inspection. The maximum duration of an on-site inspection by an inspectorate is 20 days;

dd) Report the inspection result. The inspection result shall be reported within 20 days;

e) Notify the inspection result and conclude the inspection. The maximum duration is 10 days from the day on which the inspectorate’s report is received.

7. Procedures for ASSESSING an investment program/project

a) Make and submit the assessment plan;

b) Establish an assessing delegation (if any);

c) Notify the assessment plan and request preparation of documents serving the assessment.

d) Briefly describe the nature of the assessed program/project (make and adjust the assessment framework);

dd) Prepare a detailed assessment plan;

e) Collect and analyze data;

g) Report the assessment result;

h) Notify the assessment result.

8. Procedures for overall investment monitoring

a) Determine demand for information and indicators to be monitored;

b) Make a monitoring plan;

c) Establish a mechanism for assisting the monitoring tasks;

d) Prepare the tools and IT system to assist the overall investment monitoring;

dd) Collect and analyze data;

e) Report the monitoring result according to regulations.

9. Procedures for overall investment inspection

a) Make and submit the inspection plan;

b) Establish an inspectorate (if any);

c) Notify the inspection plan and request preparation of documents serving the inspection. The minimum time limit for document preparation is 30 days from the day on which the request is received;

d) Carry out the inspection. The maximum duration of an on-site inspection by an inspectorate is 30 days;

dd) Report the inspection result. The inspection result shall be reported within 30 days;

e) Notify the inspection result and conclude the inspection. The maximum duration is 10 days from the day on which the inspectorate’s report is received.

10. Procedures for overall investment assessment

a) Determine the targets, scope, and content of assessment;

b) Make and submit the assessment plan;

c) Establish an assessing delegation (if any);

d) Notify the assessment plan and request preparation of documents serving the assessment;

dd) Collect and analyze data;

e) Report the assessment result;

g) Notify the assessment result.

Article 68. Reporting

1. The Ministry of Planning and Investment shall submit 6 month’s reports and annual reports on overall investment supervision and assessment to the Prime Minister, including overall supervision and assessment reports, assessment of projects of national importance and class A projects nationwide.

2. Ministries, regulatory bodies, and local governments, state-owned corporations, and State Capital Investment Corporation (SCIC) shall make and submit the following reports to the Ministry of Planning and Investment:

a) 6 month’s reports and annual reports on overall investment supervision and assessment;

b) Annual reports on overall supervision and assessment of outward investment.

3. Investment registration authorities shall make and send 6 month’s reports and annual reports on investment supervision and assessment to the People’s Committees of the province;

4. The agencies assigned to make reports on proposal of investment policies or pre-feasibility study reports of public investment programs and projects shall make and send the following reports to the investment deciders, supervisory authorities, and units in charge of supervision and assessment of investment:

a) Periodic reports: First quarter’s report, 6 month’s report, third quarter’s report, and annual report;

b) Supervision and assessment reports before submitting investment policies of the program/project.

5. The agencies assigned to make feasibility study reports of public investment programs and projects shall make and send the following reports to the investment deciders, supervisory authorities, and units in charge of supervision and assessment of investment:

a) Periodic reports: First quarter’s report, 6 month’s report, third quarter’s report, and annual report;

b) Supervision and assessment reports before deciding investment in the program/project.

6. Program owners, investors of public investment programs and projects shall make and send the following reports to the investment deciders, supervisory authorities, and units in charge of supervision and assessment of investment:

a) Periodic reports: First quarter’s report, 6 month’s report, third quarter’s report, and annual report;

b) Supervision and assessment reports before commencement of the program/project;

c) Supervision and assessment reports before adjusting the program/project;

d) Supervision and assessment reports before completion of the program/project;

dd) Report on assessment of the program/project they execute;

e) For programs/projects of national importance, class A projects, and projects funded by central government budget, 6 month’s reports, annual reports, and the reports mentioned in Point b, Point c, and Point d of this Clause must be submitted to the Ministry of Planning and Investment.

7. Operators of public investment projects shall make and submit the following reports to the investment deciders and agencies in charge of supervision and assessment of investment:

a) Annual reports on supervision and assessment of the project’s operation from the time the project is put into operation to the availability of the report on assessment of the project’s impact;

b) Report on assessment of the project’s impact.

8. Investors of projects using loan capital guaranteed by the government, loan capital secured with state-owned property, land use right, capital from administration development fund, capital for development of state-owned enterprises shall make and send the following reports to supervisory authorities, investment deciders, and agencies in charge of supervision and assessment of investment:

a) Periodic reports: First quarter’s report, 6 month’s report, third quarter’s report, and annual report;

b) Supervision and assessment reports before commencement of the project;

c) Supervision and assessment reports before adjusting the project;

d) Report on assessment of the project they execute;

dd) Reports on supervision and assessment before the project is put into operation (for class C projects);

e) For projects of national importance and class A projects, 6 month’s reports, annual reports, and the reports mentioned in Point b, Point c, Point d, and Point dd of this Clause must be submitted to the Ministry of Planning and Investment.

9. Investors of PPP projects shall make and submit the following reports to the investment deciders and agencies that issued the investment registration certificates:

a) Periodic reports: First quarter’s report, 6 month’s report, third quarter’s report, and annual report;

b) Supervision and assessment reports before commencement of the project;

c) Supervision and assessment reports before adjusting the project;

d) Report on assessment of the project they execute;

dd) Reports on supervision and assessment before the project is put into operation (for class C projects);

e) For projects of national importance, class A projects, and projects funded by central government budget, 6 month’s reports, annual reports, and the reports mentioned in Point b, Point c, Point d, and Point dd of this Clause must be submitted to the Ministry of Planning and Investment.

10. Investors of projects funded by other sources of capital shall make and send the following reports to investment registration authorities and agencies in charge of investment supervision and assessment of the localities where such projects are executed:

a) Periodic reports: 6 month’s report and annual report;

b) Terminal report (if any);

c) Supervision and assessment reports before commencement of the project (if the project is not subject to issuance of the investment registration certificate);

d) Supervision and assessment reports before the project is put into operation (if the project is not subject to issuance of the investment registration certificate).

11. Investors of outward investment projects shall make and send the following reports to the Ministry of Planning and Investment, the State bank of Vietnam, the Ministry of Finance, state ownership representative agencies, the People’s Committees of provinces where their head offices are located, and Vietnam’s representative agencies in the foreign countries:

a) Periodic reports: 6 month’s report and annual report;

b) Supervision and assessment reports before adjusting the project (if the adjustment of the project leads adjustment of the investment registration certificate);

c) Terminal report.

12. State Treasuries:

a) Central State Treasury shall submit quarterly and annual reports on disbursement of capital for programs and projects funded by state budget to the Ministry of Finance and the Ministry of Planning and Investment;

b) Provincial State Treasuries shall submit quarterly and annual reports on disbursement of capital for programs and projects funded by state budget in the province to the Department of Finance and the Department of Planning and Investment of the same province;

13. Reports on public supervision of investment

a) Public Investment Supervision Boards shall submit quarterly reports on public supervision of investment in local programs and projects to Vietnamese Fatherland Front Committees of communes. Public Investment Supervision Boards shall report the violations or submit other proposals to Vietnamese Fatherland Front Committees of communes during the process of supervision;

b) Vietnamese Fatherland Front Committees of communes shall submit annual reports on result of public supervision of investment to the People’s Council and the People’s Committee of the commune, and Vietnamese Fatherland Front Committees of the district and province;

c) Vietnamese Fatherland Front Committee of each province shall make and send annual reports on result of public supervision of investment in the province to the Department of Planning and Investment, the People’s Council, the People’s Committee of the same province, and the Ministry of Planning and Investment.

14. The entities mentioned in Clause 1 through 11 of this Article must update the reports on information systems as follows:

a) Reports on public investment programs/projects, PPP projects; investment projects using loan capital guaranteed by the government, loan capital secured with state-owned property, land use right, capital from administration development fund, capital for development of state-owned enterprises shall be updated on the information system for supervision and assessment of investment in programs and projects funded by state capital;

b) reports on investment projects funded by other capital sources and outward investment projects shall be updated on National Investment Information System.

15. The entities mentioned in Clause 1 through 12 of this Article shall submit extraordinary reports on request.

16. The Ministry of Planning and Investment shall take charge and cooperate with relevant agencies in:

a) Developing and operating the information systems mentioned in Clause 14 of this Article;

b) Providing guidance on management and operation of information systems;

c) Assessing the operation of information systems by central and local investment authorities.

Article 69. Deadline for reporting and contents of reports on supervision and assessment of investment

1. Deadline for program owners and investors to submit reports:

a) A report shall be submitted 15 days before commencement;

b) A report shall be submitted before adjusting the program/project;

c) A report shall be submitted 15 days before the project is put into operation;

d) Quarterly reports shall be submitted before the 10^th of the first month of the next quarter;

dd) 6 month’s reports shall be submitted before July 7 of the current year;

e) Annual reports shall be submitted before February 10 of the succeeding year.

2. Deadline for investment registration authorities to submit reports:

a) 6 month’s reports shall be submitted before July 20;

b) Annual reports shall be submitted before February 20 of the succeeding year.

3. Deadlines for State Treasuries to submit reports:

a) Quarterly reports shall be submitted before the 10^th of the first month of the next quarter;

b) 6 month’s reports shall be submitted before July 10 of the current year;

c) Annual reports shall be submitted before February 10 of the succeeding year.

4. Deadlines for Ministries, regulatory bodies, and local governments, state-owned corporations, and SCIC to submit reports

a) 6 month’s report shall be submitted before July 30;

b) Annual reports shall be submitted before March 01 of the succeeding year.

5. Deadlines for submitting reports on public supervision of investment:

a) Public Investment Supervision Boards shall submit reports before the 10^th of the first month of the next quarter;

b) Vietnamese Fatherland Front Committees of communes shall submit annual reports before February 10 of the succeeding year;

c) Vietnamese Fatherland Front Committees of provinces shall submit annual reports before February 20 of the succeeding year.

6. Deadlines for the Ministry of Planning and Investment to submit reports to the Prime Minister:

a) 6 month’s reports shall be submitted before August 31 of the current year;

b) Annual reports shall be submitted before March 31 of the succeeding year.

7. Report contents shall comply with regulations in Chapters II, III, IV, V, VI and VII of this Decree.

8. The Ministry of Planning and Investment shall provide templates of reports on supervision and assessment of investment.

Article 70. Processing results of supervision and assessment of investment

1. Ministries, regulatory bodies, and local governments must examine and resolve issues and complaints of investment supervision and assessment agencies, program owners, investors, operators within 15 days from the day on which the request is received if such issues are within their competence, and report the issues that beyond their competence.

2. When deciding investment in a program/project, the competent authority must consider the result of supervision and assessment of the preparation for investment.

3. When adjusting a program/project, the competent authority must consider the result of inspection and assessment of the program/project.

4. Results of supervision and assessment of investment are the basis for competent authorities to select investors.

5. Results of assessment of impacts of programs and projects are the basis for competent authorities to consider expanding the programs and projects or deciding investment in similar programs and projects.

Article 71. Actions against violations pertaining to supervision and assessment of investment

1. Any entity that attempts to conceal violations or commits other violations shall face administrative penalties or criminal prosecution depending on nature and severity of the violations, and pay compensation for any damage caused.

2. Penalties for administrative violations pertaining to supervision and assessment of investment shall comply with regulations of law on penalties for administrative violations against regulations on planning and investment.

3. If investors of public investment programs and projects, projects using loan capital guaranteed by the government, loan capital secured with state-owned property, land use right, capital from administration development fund, capital for development of state-owned enterprises fail to comply with regulations on reporting, the head of the agency/unit in charge of the program/project, head of the project management board, and officials assigned to carry out supervision and assessment of investment must take the following punitive actions:

a) Reprimand if reports are not submitted for 2 consecutive periods or for 3 intermittent periods;

b) Warning if reports are not submitted for 3 consecutive periods or for 4 intermittent periods.

4. In case of violations against regulations on reporting, capital shall only be disbursed after penalties are imposed as prescribed in Clause 2 and Clause 3 of this Article and reports are submitted completely.

5. Competent authorities may only adjust the investment policies, program/project, or investment registration certificate after an inspection or assessment of the program/project is carried out in accordance with this Decree.

6. Actions against violations against regulations on investment management during the process of supervision and assessment of investment:

a) The agencies carrying out supervision and assessment of investment shall promptly reports violations committed by entities under their management to competent authorities;

b) Any agency that attempts to conceal the violations shall be jointly responsible for the violations and consequences.

7. Every year, according to summary reports and proposals of investment supervision and assessment agencies, Ministries, regulatory bodies, and local governments shall consider imposing the following penalties upon program owners and investors that commit violations against regulations on supervision and assessment of investment:

a) Reprimand, warning;

b) Replacement of the program owner or investor;

c) Rejection to appoint them as investors in other projects.

8. Every year, the Ministry of Planning and Investment shall:

a) Propose penalties upon Ministries, regulatory bodies, and local governments that fail to submit reports overall investment supervision and assessment or fail to submit them on schedule, or the reports submitted are not satisfactory;

b) Submit a report on actions against violations against regulations on supervision and assessment of investment to the Prime Minister.

Chapter XI

IMPLEMENTATION

Article 72. Effect

1. This Decree comes into force from November 20, 2015.

2. This Decree replaces the Government's Decree No. 113/2009/ND-CP dated December 15, 2009 on supervision and assessment of investment.

3. Previous regulations of the Government, Ministries, ministerial agencies, and local governments that contravene this Decree are annulled.

Article 73. Implementation organization

1. Ministers, Heads of ministerial agencies, Heads of Governmental agencies, Presidents of the People’s Committees of provinces, heads of political organizations, socio-political organizations, socio-political-professional organizations, and relevant entities are responsible for the implementation of this Decree.

2. The Ministry of Planning and Investment shall cooperate with relevant Ministries and agencies in providing guidelines for this Decree./.